23. Monetary policy or rational utopia

after Germán Bernácer wrote his monetary theory, his body of work on monetary policy still needed to be developed. If his analytical style is similar to that of Keynes, one may think that his monetary or fiscal formula would have to be similar as well. Both advanced with their analytical scalpels into the organic depths of an economic being that was dying from anaemia. The blood of demand lacked energy; this was their basic proposal and it was logical to think that their medicine or surgery would also be similar.

There is no similarity at all, as will be seen. Keynes, with a capacity for political leadership and the ...

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